Barclays

Insurance companies saw a favourable window of opportunity this week to sell subordinated debt. Assicurazioni Generali, Crédit Agricole Assurances and CCR Re benefited from the supportive backdrop to raise tier two bonds.

Bankinter continued the additional tier one (AT1) supply spree on Thursday, becoming the third issuer to launch this type of bond this week and receiving praise for the 6.25% coupon it achieved.

Chinese property companies Kaisa Group Holdings, Yango Group Co and Overseas Chinese Town (Asia) Holdings raised a combined $1.5bn from their bonds on Wednesday.

France hit screens with a 15 year inflation-linked bond on Wednesday, raising €3bn with its first syndicated linker since 2018, capitalising on growing demand for inflation-linked products.

The European Financial Stability Facility kicked off its third quarter funding in style as it raised 80% of its borrowing needs for the quarter flat to its sister issuer’s curve. Elsewhere in the euro market on Tuesday, Cyprus saw decent demand as it tapped its 2024s and 2040s.

BBVA became the first financial institution to issue green debt in additional tier one (AT1) format on Tuesday, launching a bond with a 6% coupon. The Spanish lender left no premium on the table, according to some market participants.

John Muncey has joined Barclays as vice-chairman of its consumer retail group (CRG) in Europe and the Middle East, while Jamshed Kakalia has been promoted to lead the consumer business in that team.

Sunac China Holdings met some of its looming dollar refinancing pressure with a $1bn bond outing on Monday.

Cyprus will return to the market with a pair of taps on Tuesday, hitting screens alongside the European Financial Stability Facility’s new five year line, providing an excellent opportunity to compare Cyprus’s cost of funds with the cost of the European Stability Mechanism’s pandemic crisis support facility.

Investors in UK universities are struggling to work out just how risky the sector is, as its lucrative international student intake as well as pension liabilities are still unclear. A report published by the Institute for Fiscal Studies (IFS) on Monday estimated that 13 universities may go bust if they do not either carry out debt restructurings or receive government bailouts.

Assicurazioni Generali launched a greent tier two capital bond in euros on Monday, confirming the appetite for riskier products across bank capital. The new deal left no premium on the table as the issuer capitalised on demand for green subordinated debt.

Barclays appoints levfin and sponsors leaders — Créd Ag gives Goldfischer UK role — BTIG hires Huggins